AMD and Micron Surge, Lam Research Climbs 20% as Chip Stocks Rip Higher
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US stocks rose on Thursday as Microsoft Corp. soared 17% after reporting the fastest cloud unit growth in four years. Strong earnings from Lam Research, Microsoft, and Arm boosted hard-hit semiconductor stocks, leading to significant gains for companies like Micron Technology and Nvidia Corp.
Analysts noted that Microsoft is spending heavily on AI while maintaining a responsible approach to its financials. This positive momentum in the tech sector has provided a major boost to chip stocks, with Lam Research climbing 20% and other semiconductor companies experiencing notable increases.
Sources
Every quote below is verbatim from the article it is attributed to.
“Strong earnings from Lam Research, Microsoft and Arm boosted hard-hit semiconductor stocks.”
CNBC — AMD and Micron surge, Lam Research climbs 20% as chip stocks rip higher“US stocks rose on Thursday as Microsoft Corp. soared 17% after reporting the fastest cloud unit growth in four years.”
Bloomberg — US Stocks Rally With Boost From Microsoft’s Surge; Chips Jump
“Microsoft is spending heavily on AI but is also taking a “responsible” approach to its financials, an analyst said.”
MarketWatch — Micron, Sandisk and other chip stocks get major boosts in the wake of Microsoft's earnings
Earlier versions
- Jul 30, 3:58 PM — Chip Stocks Surge With Lam Research Up 20% Amid Strong Earnings (1/1)